Barra starts opencut mining at WA deposit
PERTH (miningweekly.com) - ASX-listed junior Barra Resources has started opencut mining at the Newminster deposit, which forms part of its Phillips Find gold project, in Western Australia.
The miner said on Wednesday that it had reached an agreement with Tiger Mining that provided for cash and royalty payments to Barra, in return for the right to mine the Newminster oxide deposit to a vertical depth of 65 m.
The optimum pit-shell was expected to deliver some 6 300 oz of gold over the next 6 to 15 months, from a Joint Ore Reserves Committee-compliant resource of some 149 228 t, grading 3.48 g/t gold.
Under the terms of the agreement with Tiger Mining, Barra would receive a royalty of A$20/oz on all gold mined, with Tiger having the right to mine up to 90 000 t of ore. Tiger would take responsibility for all aspects of the operation and would also pay state government royalties.
First delivery of ore to the Greenfields Mill, in Coolgardie, was scheduled for late February.
Mining of the Newminster deposit would take place over two stages, with Stage 1 going to a depth of 30 m, and mining some 28 825 t of the reserve.
Stage 2 of the mining would see some 3 500 oz of additional gold mined from the 30 m to 65 m depth. A decision to mine the second stage would be undertaken using the same agreement, unless Tiger determined that a second stage was not viable.
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